Oppenheimer & Co. Inc. Sells 3,700 Shares of Bank OZK (NASDAQ:OZK)

Oppenheimer & Co. Inc. reduced its stake in Bank OZK (NASDAQ:OZK) by 34.4% during the first quarter, HoldingsChannel reports. The firm owned 7,042 shares of the company’s stock after selling 3,700 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Bank OZK were worth $306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in OZK. Proficio Capital Partners LLC bought a new stake in shares of Bank OZK during the fourth quarter worth about $660,000. Smartleaf Asset Management LLC boosted its position in Bank OZK by 176.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 761 shares of the company’s stock worth $34,000 after buying an additional 486 shares during the period. Jones Financial Companies Lllp grew its holdings in Bank OZK by 44.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,095 shares of the company’s stock worth $93,000 after acquiring an additional 643 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Bank OZK by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,130,006 shares of the company’s stock worth $183,909,000 after acquiring an additional 188,575 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Bank OZK by 10.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,464,023 shares of the company’s stock valued at $65,193,000 after acquiring an additional 142,587 shares during the last quarter. 86.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OZK. Wells Fargo & Company decreased their price target on Bank OZK from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Stephens decreased their target price on shares of Bank OZK from $59.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Morgan Stanley reduced their price objective on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Bank OZK from $50.00 to $48.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.86.

Bank OZK Stock Up 4.1%

Shares of NASDAQ OZK opened at $50.95 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day moving average price of $45.27 and a 200-day moving average price of $45.42. The stock has a market capitalization of $5.78 billion, a P/E ratio of 8.35 and a beta of 0.85. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.64.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.42 by $0.05. The firm had revenue of $409.23 million during the quarter, compared to the consensus estimate of $403.05 million. Bank OZK had a return on equity of 13.46% and a net margin of 25.66%. During the same period in the prior year, the business posted $1.51 earnings per share. On average, equities research analysts forecast that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, July 11th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, July 11th. This is a boost from Bank OZK’s previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a yield of 3.45%. Bank OZK’s dividend payout ratio (DPR) is 28.20%.

Bank OZK Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.